With its latest seniors housing development in Georgia, Watercrest Senior Living Group is also adding a new partner to its growing roster of development/equity partners. Waypoint Residential, a real estate investment firm focused on multifamily and student housing, is making its debut in the seniors housing industry with this project.
Expected to break ground next month and open in late Spring 2019, the community is one of Watercrest’s new prototypes (with at least two others like it to be built in Columbia and Bluffton, South Carolina) with 75 units of assisted living and 32 memory care units. It is located in Newnan, Georgia, which is about 20 miles southwest of Atlanta, and marks Florida-based Watercrest’s entry into the state.
We will wait and see how this new partnership, and Waypoint’s interest in seniors housing, grows.